RenRe buys $10mn stake in Universal

RenaissanceRe has made its second strategic investment in a US
homeowners' insurer in a matter of weeks with a deal to buy
into Florida-based Universal Insurance Holdings.
In an announcement, Universal said the Bermudian had bought
583,771 of its shares for total consideration of $10mn in a private
placement.
"I am extremely pleased to have RenaissanceRe, one of our
core reinsurance partners, make this investment in our
company," said the insurer's chairman and CEO Sean
Downes.
He said the addit